World Wrestling Entertainment, Inc. (WWE), incorporated on July 28, 1987, is an integrated media and entertainment company. The Company is engaged in the production and distribution of content through various channels, including its over-the-top WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands. Its operations are organized around various principal activities, including Media Division, which consists of Network, Television, Home Entertainment and Digital Media; Live Events; Consumer Products Division, which consists of Licensing, Venue Merchandise and WWEShop, and WWE Studios. The Company operates in 10 segments: Network, which includes its pay-per-view business; Television; Home Entertainment and Digital Media, which are individual segments that comprise the Media Division; Live Events; Licensing, Venue Merchandise and WWEShop, which are individual segments that comprise the Consumer Products Division; WWE Studios, and Corporate and Other.

Media Division

The Company's Network is a round the clock live streaming network. Its Network is a subscription-based network and is available in over 180 countries and territories, including the United Kingdom, Canada, the Middle East and Ireland. Subscribers can access WWE's live pay-per-view events, programming and over 4,300 hours of its video-on-demand library. Its monthly marquis pay-per-view events include WrestleMania and the access to content and live specials. The WWE Network content includes programming, including Breaking Ground, Swerved and Stone Cold Podcast, as well as live in-ring specials, including The Beast Live from Tokyo, Live from Madison Square Garden, and its live NXT Takeover specials.

The WWE Network is available on desktops and laptops through WWE.com and through the WWE application on Amazon Fire TV and Kindle Fire devices, Android devices, iPhone operating system (iOS) devices, Apple TV, Roku streaming devices, gaming consoles, interconnected televisions, Blu-Ray players and Smart televisions. The WWE Network has approximately 1,217,100 subscribers and produces over 10 domestic pay-per-view programs. The Company produces approximately five hours of weekly domestic television programming, which include RAW and SmackDown. It also produces reality shows and other programming. Its television programming is distributed domestically and internationally. Its domestic television programs are RAW on USA Network with replays on NBC Universo and Uni HD; SmackDown with replays on NBC Universo, and Total Divas on E! Network. RAW is a three-hour live primetime program and SmackDown is a two-hour show. WWE's television programming is offered in approximately 160 countries and over 20 languages around the world.

The Company distributes its content as home entertainment releases in both physical (digital video disc (DVD) and Blu-Ray) and digital formats. Its content distributed through home entertainment channels includes themed compilations from the Company's archives, as well as releases of the Company's pay-per-view events. WWE's home entertainment titles are sold through retailers, such as Wal-Mart and Best Buy, and through subscription and transactional on-demand outlets, such as iTunes, Amazon and others. Outside the United States, third-party licensees distribute its home entertainment releases. It releases approximately 30 new home video productions domestically and in the United States, and ships approximately 2.1 million DVD and Blu-Ray units, including catalog titles. WWE offers language-based Websites. The available languages are English, French, German, Polish and Arabic. It streams its video content on select video portals, such as YouTube and Facebook.

Live Events

Live events and the associated programming produced at the Company's live events are its content and production activities. The Company produces approximately 270 live events throughout North America and approximately 60 live events internationally. These events are spread over various international tours throughout Europe, the Middle East, Asia, Latin America and Australia.

Consumer Products Division

The Company establishes a licensing program across the world using its marks and logos, copyrighted works and characters on various retail products, including toys, video games, apparel and books. It has a joint venture with Authentic Brands Group, LLC (ABG), a brand development and licensing company, to relaunch Tapout, a repositioned lifestyle fitness apparel brand in which WWE has approximately 50% ownership interest. It also has a licensing agreement with Mattel, Inc., its master toy licensee, covering all territories and a licensing agreement with Take-Two Interactive Software, Inc. (Take-Two), publisher of its branded video games. Its WWE branded video games include WWE 2K, which is available on PlayStation, XBOX platforms, iOS and Android devices, and WWE SuperCard, which is available on iOS and Android devices. Its WWE 2K and WWE SuperCard video games can be downloaded through the Internet and also contain downloadable content that can be purchased to add additional characters and game modes. It composes and records music, including Superstar and Diva entrance themes, in its recording studio. In addition to its own composed music, it licenses music performed by artists. The Company's Venue Merchandise business consists of the design, sourcing, marketing and distribution of various WWE-branded products, such as t-shirts, belts, caps and other items, all of which feature its Superstars, Divas and logos. These items are offered for sale at its live events. The Company's WWEShop is its e-commerce storefront. WWE merchandise is also distributed on other e-commerce platforms, including Amazon.

WWE Studios

WWE Studios oversees the Company's participation in the production and distribution of filmed entertainment content, which may include movies for theatrical, home entertainment, and/or television release. WWE utilizes its marketing and content platforms, especially its weekly presence on prime-time television, to support its movie projects. WWE Studios has released over six films.

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